In response to the Coronavirus (COVID-19) pandemic and its effect on small businesses, the Village of Schaumburg has created a small business grant program. The objective of this grant is to help businesses retain employees at pre-COVID-19 levels. The village is offering small business owners in Schaumburg a 50% match of operating expenses for two months (up to $10,000 total for each business) to help retain employees. The village has allocated $100,000 to this program, with funds available on a first come, first served basis.
- Be located within the Village of Schaumburg
- Demonstrate that the COVID-19 outbreak caused a decrease in revenue
- Employ between 1-5 employees/contract employees (not including owner/s) in total across all locations
- Have less than $1.5 million in gross annual revenue
- Have been in operation for at least 1 year
- Have no outstanding tax liens or legal judgments
- Not receive, or have received, assistance through other programs intended for this purpose such as the SBA’s Economic Injury Disaster Loan program or PPP